Marketing Mix

8932 Words Aug 17th, 2009 36 Pages
Marketing Mix Decisions

IE 153—WSWX

Marketing Mix
The term “marketing mix” became popularized after Neil H. Borden published his 1964 article, “The Concept of the Marketing Mix”. Borden began using the term in his teaching in the late 1940’s after James Culliton had described the marketing manager as a “mixer of ingredients”. The ingredients in Borden’s marketing mix included product The Marketing Mix planning, pricing, branding, distribution channels, personal selling, Source: http://www.quickmba.com/marketing/mix/ advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis. E. Jerome McCarthy later grouped these ingrediThe 4 P’s of Marketing ents into the four categories that today are
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Materials and parts – industrial products that enter the manufacI. Consumer Products – products bought by turer’s product completely final consumers for personal consumption a. Raw Materials — farm products (e.g. wheat, vegetables) and 1, Convenience products – consumer Source: Go, Josiah. “Fundamentals of Marketing in the natural products (e.g. lumber, Philippine Setting”. Design Plus. Philippines: 2005. fish) products that the customer usually buys b. Manufactured materials and frequently, immediately, and with a parts — component materials (e.g. cement, wires) minimum of comparison and buying effort a. Staples – products that consumers buy on a regular and component parts (e.g. tires, castings) basis (e.g. rice, sugar, and other commodities) b Impulse products – purchased with little planning or 2. Capital items – industrial products that partly enter the search effort (e.g. candies, magazines and snack finished product, food) a. Installations—buildings (e.g. offices) and fixed c. Emergency products – what consumers buy when equipment (e.g. generators, elevators) their need is urgent b. Accessory equipment — portable factory equipment and tools (e.g. hand tools) and office equipment (e.g. fax machine) 2. Preference products - consumers have specific preferences for brands or suppliers but are willing to make substitutions during stock-out situations (e.g. tooth- 3. Supplies and services – industrial products that do not enter the finished product at all paste

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